BAKU, Azerbaijan, Sept. 30
By Zeyni Jafarov - Trend:
The net foreign assets of the Azerbaijani commercial banks from January through August 2021 decreased, Trend reports on Sept. 30 via the statistics report of the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure amounted to 4.2 billion manat ($2.4 billion), down by 102.7 million manat ($60.4 million) or 2.4 percent compared to the first eight months of 2020 (4.3 billion manat or $2.5 billion).
The net foreign assets of banks were formed through deducting total foreign assets in the amount of more than 5.6 billion manat ($3.3 billion) and external liabilities in the amount of 1.03 billion manat ($610 million).
The deposit operations of commercial banks amounted to 20.3 billion manat ($11.9 billion) during the reporting period, which is by 19 percent more than in the same period of last year (17.1 billion manat or $10.06 billion).
Some 10.9 billion manat ($6.4 billion) of that amount accounted for deposits in national currency, 9.3 billion ($5.4 billion) - in foreign currency in manat equivalent.
According to S&P Global Ratings forecasts, the share of commercial banks in Azerbaijan's GDP will gradually decrease from 2021 through 2022 and will amount to 20.5 percent and 19.6 percent, respectively while this figure will be at the level of 19.6 percent in 2023.
(1 USD = 1.7 AZN on Sept.30)
---
Follow the author on Twitter: @jafarov_zeyni
